Quantitative Approaches Are Often Closely Connected with _____ Approaches,in Which

question 64

Multiple Choice

Quantitative approaches are often closely connected with _____ approaches,in which mathematical models are used to analyze data for decision making.

• A)behavioral
• B)systems
• C)scientific management
• D)functional

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Definitions:

Direct Labour Hours

The total hours worked by employees directly involved in the manufacturing process of a product.

Static Budget

A budget based on a fixed set of assumptions that don't change over the period it covers, regardless of actual changes in volume or activity levels.

Standard Costing

Standard Costing is a cost accounting method that uses fixed overhead rates and standard costs for materials and labor to help control costs and measure performance.

Variable Overhead

Variable overhead refers to costs that vary with production levels, such as utility expenses for machinery or materials, fluctuating with the volume of output.